I own most of a property company which needs to borrow money. If it goes to a bank it will have to pay around 3%. However, I have the opportunity to take out a personal mortgage on my own home at 2%.
If I take out the mortgage of say £100,000 at 2% and then lend the money to my company at 3%, am I allowed to offset my interest cost against my interest earned and so declare and pay tax just on the net £100,000 x (3%-2%) = £100,000 x 1% = £1,000?
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